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Doing Business In Romania - Part Ii: The Paradigm Of The (Un)Limited Liability Of The Entrepreneur For The Professional Obligations Of The Types Of Entities Without Legal Personality

Author

Listed:
  • Rodica Diana APAN

    ("Dimitrie Cantemir" Christian University of Bucharest, Faculty of Law Cluj Napoca)

Abstract

The present study focuses on the analysis of the legal status of the affectation patrimony of the registered sole trader authorised to carry out trading activity as well as that of the simple partnership. Representing a distinct part of assets within the individual's own patrimony, the affectation patrimony attract the segregation of the professional creditors who can pursue the assets mainly for the professional obligations. But the effect of constituting the affectation patrimony is not that of preventing the creditors to pursue the other properties within the individual's own assets in the case where they have not been satiated from the affectation patrimony. We conclude that the patrimony of the persons that form a partnership from the individual type of business are exposed up to various degrees to be being pursued for the obligations towards the third parties.

Suggested Citation

  • Rodica Diana APAN, 2014. "Doing Business In Romania - Part Ii: The Paradigm Of The (Un)Limited Liability Of The Entrepreneur For The Professional Obligations Of The Types Of Entities Without Legal Personality," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 6, pages 13-20, December.
    • Handle: RePEc:cmj:seapas:y:2014:i:6:p:13-20
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    More about this item

    Keywords

    Affectation patrimony; Types of patrimony; Creditor segregation; Order of preference;
    All these keywords.

    JEL classification:

    • K20 - Law and Economics - - Regulation and Business Law - - - General

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